30.38.010 - Out-of-state bank may engage in banking in this state -- Conditions -- Director's approval of interstate combination. - Washington Statutes

Out-of-state bank may engage in banking in this state — Conditions — Director's approval of interstate combination.

(1) An out-of-state bank may engage in banking in this state without violating RCW 30.04.280 only if the conditions and filing requirements of this chapter are met and the bank was lawfully engaged in banking in this state on June 6, 1996, or the bank's in-state banking activities:

     (a) Resulted from an interstate combination pursuant to RCW 30.49.125 or 32.32.500;

     (b) Resulted from a relocation of a head office of a state bank pursuant to 12 U.S.C. Sec. 30 and RCW 30.04.215(3);

     (c) Resulted from a relocation of a main office of a national bank pursuant to 12 U.S.C. Sec. 30;

     (d) Resulted from the establishment of a branch of a savings bank in compliance with *RCW 32.04.030(2); or

     (e) Resulted from interstate branching under RCW 30.38.015.

Nothing in this section affects the authorities of alien banks as defined by RCW 30.42.020 to engage in banking within this state.

     (2) The director, consistent with 12 U.S.C. Sec. 1831u(b)(2)(D), may approve an interstate combination if the standard on which the approval is based does not discriminate against out-of-state banks, out-of-state bank holding companies, or subsidiaries of those banks or holding companies.

[2005 c 348 § 2; 1996 c 2 § 11.]

Notes: *Reviser's note: RCW 32.04.030 was amended by 2005 c 348 § 4, changing subsection (2) to subsection (6).

Effective date -- 2005 c 348: See note following RCW 30.38.005.